Wall Street analysts expect Primo Water Co. (NASDAQ:PRMW) to post $0.02 earnings per share for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Primo Water’s earnings, with the lowest EPS estimate coming in at $0.00 and the highest estimate coming in at $0.03. Primo Water reported earnings of $0.03 per share during the same quarter last year, which would indicate a negative year over year growth rate of 33.3%. The business is expected to issue its next earnings report on Tuesday, May 14th.
According to Zacks, analysts expect that Primo Water will report full year earnings of $0.54 per share for the current financial year, with EPS estimates ranging from $0.48 to $0.60. For the next fiscal year, analysts expect that the firm will report earnings of $0.70 per share. Zacks’ earnings per share averages are an average based on a survey of research firms that that provide coverage for Primo Water.
Several analysts have recently commented on PRMW shares. ValuEngine raised Primo Water from a “hold” rating to a “buy” rating in a research report on Monday, March 11th. BidaskClub cut Primo Water from a “buy” rating to a “hold” rating in a research report on Tuesday, January 15th. Imperial Capital reaffirmed an “outperform” rating and issued a $20.00 target price on shares of Primo Water in a research report on Friday, March 8th. Zacks Investment Research raised Primo Water from a “sell” rating to a “hold” rating in a research report on Tuesday, January 8th. Finally, BMO Capital Markets raised their target price on Primo Water from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 6th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $20.20.
In related news, VP Michael Cauthen sold 1,859 shares of Primo Water stock in a transaction on Monday, January 7th. The stock was sold at an average price of $14.53, for a total transaction of $27,011.27. Following the completion of the sale, the vice president now owns 5,456 shares of the company’s stock, valued at $79,275.68. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 13.50% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Federated Investors Inc. PA boosted its position in Primo Water by 229.7% during the third quarter. Federated Investors Inc. PA now owns 1,375 shares of the company’s stock valued at $25,000 after purchasing an additional 958 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Primo Water during the fourth quarter valued at $36,000. Legal & General Group Plc boosted its position in Primo Water by 19.0% during the fourth quarter. Legal & General Group Plc now owns 5,849 shares of the company’s stock valued at $82,000 after purchasing an additional 932 shares during the last quarter. Great West Life Assurance Co. Can acquired a new stake in Primo Water during the fourth quarter valued at $92,000. Finally, HRT Financial LLC acquired a new stake in Primo Water during the fourth quarter valued at $153,000. 80.19% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ PRMW traded down $0.43 during mid-day trading on Tuesday, reaching $14.77. The company had a trading volume of 296,815 shares, compared to its average volume of 417,589. The stock has a market capitalization of $574.92 million, a price-to-earnings ratio of 43.44, a PEG ratio of 3.28 and a beta of 0.43. The company has a quick ratio of 0.75, a current ratio of 0.97 and a debt-to-equity ratio of 1.89. Primo Water has a 1-year low of $11.40 and a 1-year high of $20.72.
About Primo Water
Primo Water Corporation, together with its subsidiaries, provides multi-gallon purified bottled water, self-service refill water, and water dispensers in the United States and Canada. It operates in three segments: Refill, Exchange, and Dispensers. The Refill segment sells filtered drinking water dispensed directly to consumers through self-service machines.
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